"I know this is a favorite question for any listing agent" the buyer's agent started out, "but will your seller take less?"
As a Silver Spring, MD area listing agent there is only one way to answer this question: "Thank you very much for the interest but, as you know, an offer is so much more than just price. Please put it in writing and I would be happy to present it!"
It is my job to: guide my sellers through the pre-listing stage, assist with preparing the home for the market, gather all necessary disclosures, take a close look at recent sales and active competition to help my sellers arrive at a list price, to market the property, generate interest and offers, to present them promptly and to do everything and then some to go from contract to settlement.
It is not my job to decide whether or not my client will accept less. Unless instructed in writing to do otherwise, I will present any and all written offers. The offering price is obviously a big deal but there are other terms that can make an offer [more] attractive: closing date, inspection/appraisal/existing home sale contingencies, amount of seller subsidy if any, earnest money deposit, buyer qualification and preapproval status all play a role.
Just throwing out a $ amount does not tell me anything about the other terms of the contract and is not enough for my sellers to make a decision. A verbal offer is missing the crucial information I need to prepare an estimated closing cost worksheet to show my sellers what this offer means for their bottom line.
In my opinion it is also not fair to the buyer ... what if the buyer wants to offer a lower price but it is still an overall attractive offer, attractive enough to open up negotiations? He will never know .. When representing home buyers I always put an offer in writing. A verbal offer is not worth the paper it was not written on!
Will your Silver Spring home seller take less for their home? I don't know! Please put it in writing and we'll find out!
John McCormack, CRS
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